Businesses are set to benefit from Crowdfinders, a £100m funding drive initially set up to improve the £1bn UK SME funding struggle that is currently ongoing.
The scheme, Race to Scale opens up to growing businesses that are able to present for a chance to receive a percentage of the £100m debt and equity finance available thanks to IW Capital and their variety of partners; Seedrs, Crowdcube and the UKBAA.
Race to Scale is officially available to all businesses that are ‘scaling-up’ – any successful business that has been chosen will then have to deliver their pitch to a group of 500+ angel and private investors over a field of live Crowdfinders’ events so that they can acquire a chance to receive a part of the loan up for grabs.
Chairman and Co-Founder of Crowdfinders, Luke Davis has said;
“It’s reassuring to see the appetite that investors have for the British business and the confidence they place in SME progression, but the lack of available information is something that could significantly obstruct small and medium businesses from scaling up.
“The scale-up phase is notoriously difficult to get right but with greater access to funds and targeted mentorship, we could witness more business success stories – something I’m keen to see happen across the UK.”
Chief Executive Officer of the UKBAA, Jenny Tooth has also commented;
“As the trade body for angel and early stage investing across the UK, we are aware that there remains a huge untapped amount of financial capacity to invest in growth oriented small businesses.
“We are delighted to support the Race to Scale initiative and enable investors to access our new nationally validated programmed of investor education and accreditation.
“This will enable investors to gain the knowledge and skills they need to make effective decisions about which businesses to back and ensure that we can effectively mobilise this capital to support great growth businesses in Britain.”